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4 in 10 S'porean employees want to retire at 55

Darthrevan

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Darthrevan

Darthrevan

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If given a choice, four in 10 Singaporeans will retire at the age of 55, a recent survey found.

 

Almost four in 10 employees in Singapore want to retire at the age of 55 - 10 years earlier than the retirement age set by the government, revealed the 2014 Randstad Award survey released on Friday.
The survey of 6,546 employees in Singapore also found that respondents would be motivated to work longer if their workplace offered a more relaxed schedule, friendlier atmosphere and shorter work hours.
Randstad Country Director for Singapore Michael Smith said the findings provide organisations with a clear insight on how best to engage their top talent in order to retain them.
"Singapore is already facing a talent crisis, with many organisations finding it difficult to meet the demand for skills.
“If a situation arises where a large group of the talent pool are unwilling to work till the retirement age, this will make the talent shortage challenge even more acute for organisations here.
“Employers need to constantly evolve their talent management strategies by understanding the motivations of their employees of all ages, including return-to-work mothers and the mature-age workforce," said Mr Smith.
The survey found that female employees, in particular, find flexible working hours a key motivator for staying in the workforce.
Mr Smith said this is not surprising, given female employees tend to think about family priorities at some stage during their careers.
"Today's constantly changing world of work means that there is no one-size-fits-all approach.
“Employers need to continuously rethink their approach to ensure they are meeting the needs of their employees. These include establishing flexible working arrangements, a positive working environment and work-life balance.
“Yet it is critical for employers to strike the balance between keeping their employees happy and maintaining productivity to ensure their business is well placed for the next phase of growth," added Mr Smith.
The survey also found that competitive salary and employee benefits remain the most important factors for employees in Singapore when they choose an employer.
This is the third consecutive year where salary and benefits have taken the top spot.
The top three key employer personality traits employees in Singapore look for are: reliable, honest and sincere.
Another survey finding was that Singapore employees spend an average of 42 minutes travelling to work.
This is close to their acceptable time of 39 minutes.

 

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Wyfitms

Wyfitms

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terrible.. govt better start stronger propaganda to make lazy singaporeans want to retire at 80 (or the day before they die, whichever comes first)

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Tigerwoods

Tigerwoods

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when you have achieve the longest working hours in the world, you will have people who wants to retire early.

Something's got to give.

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Darthrevan

Darthrevan

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terrible.. govt better start stronger propaganda to make lazy singaporeans want to retire at 80 (or the day before they die, whichever comes first)

 

yes..totally unacceptable..LKY is almost 91 & still working..how dare ordinary peasants think of retiring at 55? [laugh]

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Zyklon

Zyklon

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“If a situation arises where a large group of the talent pool are unwilling to work till the retirement age, this will make the talent shortage challenge even more acute for organisations here.

 

 

See!

 

Justification to bring in more FT is prepared.

 

We are bringing in more FT to help YOU retire earlier! IT IS ALL FOR YOUR OWN GOOD!

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Kxbc

Kxbc

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I am one of the 6 who do not want to retire at 55.

 

 

 

 

 

 

I want to retire at 54. [smash]

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Celicar

Celicar

Turbocharged

Why need propaganda. Just make things even more expensive and whether the common man likes it or not, he is forced to work longer or else go hungry.

terrible.. govt better start stronger propaganda to make lazy singaporeans want to retire at 80 (or the day before they die, whichever comes first)

 

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Vid

Vid

Hypersonic

Why need propaganda. Just make things even more expensive and whether the common man likes it or not, he is forced to work longer or else go hungry.

 

 

Singaporeans cannot retire lah. One illness and it can wipe out the whole family's money. Not many people can retire early and live comfortably for the rest of their lives.

 

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Wt_know

Wt_know

Supersonic
(edited)

want to retire at 55 but they didn't realise they can only take out not more than $10k from their cpf ... lol

when reality hit ... all kwai kwai go back to work

 

just up min sum and push back drawn down age ... all kwai kwai to work till 80 because still got home loan to pay and pay

at age 40 ... sell hdb and upgrade to ec / pc ... and probably take on another $500k loan ... wahahaha

Edited by Wt_know
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Super7

Super7

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when you have achieve the longest working hours in the world, you will have people who wants to retire early.

Something's got to give.

 

 

Some of the 'long hours' include surfing MCF in office.... this one can retire early? [:p]

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13177

13177

Supersonic

Retire at 55? If the person can live until 80 year old or beyond, what he/she plan to do over the 30 years of retirement period?

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Voodooman

Voodooman

Supersonic
(edited)

Retire at 55? If the person can live until 80 year old or beyond, what he/she plan to do over the 30 years of retirement period?

If you have money and family, lots to do. No money but with family (include sub-set of no money with no family), stay at home and suck thumb. LOL.

 

Having said that, it is better to continue to work if you can and not because you have to.

Edited by Voodooman
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Baal

Baal

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Singaporeans cannot retire lah. One illness and it can wipe out the whole family's money. Not many people can retire early and live comfortably for the rest of their lives.

 

Hence there are people who decide to refuse treatment. Maybe just obtain morphine from proper legitimate means.

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Passat57

Passat57

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I don't mind retire early so that my kids can find jobs. Not every companies can afford to have MM, SM, EM or Minister without portfolio.

 

Edited by Passat57
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Blackyv

Blackyv

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Just had a chat with an American customer over the dinner last night, he is 52yr and have plan to work untill 70 before retirement,, he said still got 17yrs of working life, considering of taking up nursing course and change to that industry, be a nurse take care of the elderly untill he needs someone to take care off..

And he is already a grandfather of 7..

 

Over here in sg, people thinking of retiring at 55..my goodness...

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